{LONGTERMINVESTORS} Daily Currency Strategy (May 23): Sell US$INR in range of 67.70-67.80...

In the currency futures market, the most traded dollar-rupee May contract on the NSE ended at 67.56. The May contract open interest was up 11.76% from the previous day

 

June contract open interest was up 14.75% from the previous day

 

We expect the US dollar to meet supply pressure on pullbacks against the rupee. Utilise pullbacks in the US$/INR May contract to sell

 

Intra-day strategies

 

1. Sell US$INR in the range of 67.70-67.80

 

For details, click on the link below

http://content.icicidirect.com/mailimages/Currency_outlook.pdf

 

Research Desk |ICICIdirect.com|

ICICI Securities Ltd |Akruti Trade Centre, 1st Floor |Road No 7 MIDC | Andheri (East)| Mumbai 400 093 |

Email: research@icicidirect.com|

 

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